The year 2017 will be remembered as a record setter for the Chinese private equity and venture capital industry, as the number of IPO exits secured by PE/VC firms this year almost doubled from a year ago. In fact, the number of IPO exits in 2017 is equals to half of all IPO exits recorded in the six years from 2011 to 2016.
Hong Kong-based online mobile lending start-up WeLab, backed by investors including Credit Suisse Group AG, local tycoon Li Ka-Shing and Alibaba Hong Kong Entrepreneurs Fund, is planning an initial public offering on the Hong Kong Stock Exchange.
Chinese fintech company Jianpu Technology Inc.’s debut on the New York Stock Exchange Thursday was a disappointment, with the stock gaining only 5% despite the company pricing its IPO at below its anticipated price range. Despite the lack-luster debut, the firm’s IPO marks the second successful fintech exit for backers including Sequoia Capital and Lightspeed China Partner I, L.P., after PPdai, a Chinese peer-to-peer lending platform, went public in New York last month. Sequoia Capital and Lightspeed own 17.6% and 16.7% of Jianpu Technology, …
As more Chinese companies go public it’s becoming increasingly clear that many of them have lied about the level of funding they received as private companies, and thus their pre-IPO valuations. The latest example is Rong360 Inc., once listed on China Money Network’s China Unicorn List with a US$1 billion valuation. The company is planning a U.S. listing for its wholly-owned subsidiary Jianpu Technology Inc., raising up to US$200 million, according to its IPO prospectus filed with the U.S. Securities …
China’s Qudian Inc., a provider of online consumer credit products backed by Ant Financial, has completed a listing on the New York Stock Exchange, raising approximately US$900 million.
Chinese peer-to-peer lending platform PPdai.com will seek an initial public offering on the New York Stock Exchange, the company said in a filing, marking the latest Chinese financial technology company to go public. PPdai.com is currently values as a unicorn on China Money Network’s China Unicorn List with a US$2 billion valuation.
Chinese biopharmaceutical company Zai Lab Ltd., backed by Chinese venture capital firms including Advantech, OrbiMed Asia Partners and Qiming Venture Partners, has completed an initial public offering on the NASDAQ in New York, raising approximately US$150 million in total.
Berry Genomics, a Chinese prenatal genetic testing and diagnostics company backed by Qiming Venture Partners and Legend Capital, has completed a reverse merger with Shenzhen-listed Chengdu Tianxing Instrument & Meter in a deal that valued Berry at RMB4.3 billion (US$619 million).
Chinese bike rental company Youon Bike, backed by Ant Financial and Shenzhen Capital Group, has completed an initial public offering on the Shanghai Stock Exchange, raising RMB581 million (US$87 million). It is the first stock market listing by any of the dozens of bike sharing companies in China.
Shanghai-based biopharmaceutical company Zai Lab, founded by Samantha Du, a former managing director at Sequoia Capital, has filed to raise up to US$115 million in an initial public offering on the NASDAQ.
Beijing-based start-up incubator Iheima, backed by Fortune Capital, has completed an initial public offering on the ChiNext, a NASDAQ-style board of the Shenzhen Stock Exchange, to raise a total of RMB182 million (US$27 million). As the first IPO of an incubator, accelerator and start-up media platform in China, Iheima issued 17 million new shares at the price of RMB10.75 (US$1.61) apiece, according to an IPO prospectus. The company is valued at RMB1 billion (US$140 million), based on its highest trading …
Chinese gene sequencing giant BGI Genomics Co., Ltd. today completed an initial public offering on the ChiNext board in Shenzhen, raising around RMB1.7 billion (US$250 million). The successful IPO comes after the company previously failed to list in the U.S. and Hong Kong, as well as an unsuccessful bit to achieve an A-share float via a reverse merger.
Razer Inc., a U.S.-based computer hardware developer for the gaming industry backed by Hong Kong tycoon Li Ka-Shing, is planning to pursue an initial public offering on the Hong Kong Stock Exchange.
Best Inc., the Alibaba-backed Hangzhou-based logistics company also known as Best Logistics Technology Co., has filed for an initial public offering on either the New York Stock Exchange or the Nasdaq Global Market, aiming to raise US$750 million.
Career International, a Beijing-based talent solutions provider backed by Matrix Partners China, has completed a listing on the Shenzhen Stock Exchange’s NASDAQ-style ChiNext Board, paving the way for a successful exit by the venture firm ten years after investing in the company.
Jiuxian.com, a Beijing-based alcoholic beverage e-commerce company backed by venture firms, said it plans to delist from China’s New Third Board and instead prepare for a listing on one of China’s main boards, according to a securities filing.
Chinese e-commerce giant Alibaba Group has netted at least US$1 billion in proceeds by selling most of its shares of location-based social networking mobile app firm Momo Inc. The divestment locks in a net gain of at least 50-times the e-commerce company’s initial investment.
Jiangsu province-based bike sharing company Youon Bike is making another try for an initial public offering on the Shanghai Stock Exchange, seeking to raise RMB598 million (US$86 million) by issuing 24 million shares. An earlier application was rejected in 2015. Founded in 2010, Youon Bike received an undisclosed amount of money from Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., and IDG Capital. However, Youon plans to end the funding, according to its IPO prospectus. The company …
Alibaba Group Holding Ltd’s cultural and entertainment group has fully acquired Damai.cn, a Bejing-based online ticketing platform, according to a company announcement.
Tanyuan Tech, a Jiangsu province-based high-tech new material maker backed by Chinese investment firm Legend Capital and GSR Ventures, has completed an initial public offering on the Shanghai Stock Exchange today.
Beijing-based water treatment company CSD Water Services, backed by Qiming Venture Partners and GGV Capital, has completed an initial public offering on the Shanghai Stock Exchange today.
Shenzhen-based installment payment e-commerce platform Fenqile aims to raise around US$600 million via an initial public offering on a U.S. stock exchange later this year, according to media reports citing insiders.
Chinese robot vacuum maker ECOVACS Robotics Co., Ltd., backed by IDG Capital, has filed with the country’s securities regulator to list on the Shanghai Stock Exchange.
Baidu Inc. has announced plans to acquire Beijing-based Raven Tech, a Chinese smart home control and smart hardware start-up utilizing artificial intelligence, big data and next generation operating systems, Chinese media reported.
Beijing-based neighborhood store start-up Huimin has acquired control of O2O (online-to-offline) peer Beequick, as a lack of new funding for these type of start-ups is forcing industry players to survive through mergers and acquisitions.
HomeKoo, a Chinese customized furniture manufacturer backed by Shenzhen Fortune Capital, has obtained regulatory approval to list on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange.
Fifty-six companies left China’s New Third Board, an over-the-counter market designed for China’s small-to-medium size enterprises, in 2016 as continued low liquidity hurt listed companies’ abilities to raise capital and fuel their growth.
Shenzhen-listed asphalt manufacturer Hubei Guochuang Hi-tech Material Co., Ltd. has agreed to acquire Shenzhen Yunfang Internet Technology Co., an operator of online real estate leasing and agency platform Qfang.com, for RMB380 million (US$54 million), according to an announcement.
G-bits Network Technology Co. Ltd., a Chinese online gaming company backed by IDG Capital Partners and Fortune Capital, has completed an initial public offering on the Shanghai Stock Exchange, raising RMB961 million (US$138 million).
Berry Genomics, a Chinese prenatal genetic testing and diagnostics company backed by Qiming Venture Partners and Legend Capital, is moving ahead toward an A-share listing via a reverse merger with Shenzhen-listed Chengdu Tianxing Instrument & Meter.
Meitu Inc., a photo retouch app developer backed by Qiming Venture Parnters, IDG Capital Partners and others, has completed offering 574 million shares priced at HK$8.50 apiece to raise net proceeds of approximately HK$4.688 billion (US$604 million).